RECESSION: Saraki calls for sale of National Assets

RECESSION: Saraki calls for sale of national assets

The Senate President, Bukola Saraki, has joined the calls for the sale of some of the National assets to beef up the country’s external reserves and upgrade infrastructure to reflate the economy.

Earlier advocates of the proposal include Africa’s richest man, Aliko Dangote, and the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele.

Saraki, who made the proposal during the senate plenary, while welcoming senators from recess, listed the assets to be considered for sale as including the stake in the Nigeria Liquiefied Natural Gas (NLNG), and the joint venture with oil majors, Africa Finance Corporation, as well as privatization and the concession of major airports and refineries.

The Senate President said it would restore the confidence of investors, discourage currency speculation and stabilize the economy.

Saraki said although the economic recession was caused by failure of the past government to plan for the economy, Nigerians are only interested now on being told of plans that would put food on their table, reduces the prices of rice, sugar meat and others.

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